Iljin Highsolus and Hyundai Global Service Jointly Develop Hydrogen Fuel Cell Propelled Ship

Ahn Hongsang, CEO of Iljin High Solus (left), and Park Hoosik, Head of the Digital Control Division at Hyundai Global Service, are taking a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] Iljin HiSolus, an eco-friendly hydrogen fuel storage solution specialist under Iljin Group (CEO Ahn Hong-sang), announced on the 18th that it has signed a memorandum of understanding (MOU) with Hyundai Global Service, a subsidiary of Hyundai Heavy Industries Group, to jointly develop commercial hydrogen electric propulsion ships.

Iljin HiSolus will be responsible for developing the hydrogen fuel supply system and obtaining classification certification, while Hyundai Global Service will develop the hydrogen fuel cell-based electric propulsion system and provide technical support for classification certification of the hydrogen fuel supply system.

As carbon emission regulations are being strengthened in the shipbuilding industry following the automotive industry due to global warming, the shipbuilding sector is expected to accelerate its transition to new construction and retrofitting projects for eco-friendly ships. The government announced the Eco-friendly Ship Act, which restricts the purchase of new government vessels to eco-friendly ships from 2020 and provides subsidies for purchasing eco-friendly ships for coastal vessels. The International Maritime Organization (IMO), under the United Nations, also announced stringent regulations to reduce ship carbon dioxide emissions by 40% by 2030.

Through this agreement, the two companies plan to apply the developed system to domestic government and coastal vessels, including small and medium-sized ships, and cooperate to gradually expand supply to global shipping companies and medium to large-sized vessels in the future.

Ahn Hong-sang, CEO of Iljin HiSolus, said, "Once detailed discussions with shipping companies are completed in the third quarter of this year, ships equipped with our hydrogen supply system will be operational next year," adding, "We expect high synergy through cooperation with Hyundai Global Service, which holds the only total solution in the domestic electric propulsion system field."

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